Central Coalfields profit doubles

Targets 50 million tonnes production this year

Central Coalfields, a subsidiary of Coal India, has achieved a highest-ever growth rate of 9 per cent in 2009-10 over the previous year with a production of 47.08 million tonnes.

This is also as per the target agreed in the memorandum of understanding and despite the odds faced by the company in the form of delay in forest clearances, bandhs and shortage of personnel due to Lok Sabha and assembly elections. The company is now targeting a production of 50 million tonnes this fiscal. However, a press release mentioned that offtake in the last fiscal could not be kept at a matching level for want of railway rakes, the supply of which was extraordinarily poor. Gross turnover in 2009-10 stood at Rs. 6,790 crore against Rs. 5,978 crore of the year before and profit before tax almost doubled to Rs. 1,500 crore from Rs. 763.80 crore.